India Tightens Gold Import Rules with 100KG Limit and Enhanced Monitoring The Indian government has introduced stricter regulations to control the rising gold imports, implementing a 100-kilogram limit and mandatory inspections to ensure compliance. These measures, announced by the Directorate General of Foreign Trade (DGFT), aim to curb speculative activities and enhance transparency in the gold trade. The new rules apply to the Advance Authorisation Scheme, which allows businesses to import gold for manufacturing purposes. Under the updated guidelines, any company or unit operating under the Advance Authorisation Scheme can now import a maximum of 100 kilograms of gold. This cap is designed to prevent excessive imports that could destabilize the domestic market. Additionally, the government has mandated physical inspections for new applicants, requiring regional authorities to verify the existence and operational status of manufacturing units. This step ensures that imported gold is genuinely used for production rather than being resold in the domestic market. The rules also emphasize accountability by linking future import permissions to past export obligations. Companies must fulfill at least 50% of their previously mandated export commitments before being eligible for a new import authorization. This requirement aims to prevent the misuse of import licenses for speculative trading. To further strengthen oversight, the DGFT has imposed a rigorous monitoring system. Authorized importers are now required to submit performance reports every 15 days, which must be audited by a certified chartered accountant. These reports will detail both imports and exports, ensuring transparency in the supply chain.#india #director_general_of_foreign_trade #dgft #advance_authorisation_scheme #gold_import_rules
